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Monday, 25 October 10
DRY BULK MARKET STILL HEAVILY DEPENDENT ON CHINA, POSTS SMALL WEEKLY LOSS OF 1.27% - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 With every twitch and turn from China’s metals industry, the dry bulk market is disproportionally affected, as evidenced by the course of the freight rate this week. According to the industry’s benchmark, the Baltic Dry Index (BDI), the week ended with a small loss of 1.27% at 2727 points, with Friday being the only positive session after five straight losing ones. According to shipbrokers, this week could be a better one, with cold weather in China seen as the major contributing factor to a potential increase of coal demand. Meanwhile, the capesize segment of the market managed to stay ahead of the pack, with Chinese iron ore demand retaining freight rates to very firm levels (weekly gain of 0.64%), while average earnings are now at a healthy $45,657 per day.
According to Arctic Securities, a a drawdown of iron ore inventories in China and high domestic prices were likely to lead to high iron ore imports the fourth quarter. In its weekly report, N.Cotzias Shipping Group mentioned that although this week’s changes were minimal, high volatility is the key of all markets and the constant upswings followed by quick rapid downfalls that are mostly recovered within the month, have caused a greater degree of uncertainty to the market. “Deals are performed but the overall question of most shipping investors is that these shorter term volatility fluctuations don’t really pose investment opportunities based on “proper timing”. How can you time your investments when secondhand prices are considered to be on the “high” side remaining fairly stable and don’t have the time to follow the ups and downs of the freight markets? In any case what can still be considered a blessing is that the dry bulk market daily earnings are well above any critical survival levels and only expensive ships acquired during the Feb 2007 - Jul 2008 period with a greater degree of leverage, can be considered as possible “sufferers” even at today’s rates” the shipbroker said.
In terms of deals, Golden Destiny reported 31 sales in the secondhand and demolition market this past week. The highest activity has been witnessed in the newbuilding market with 25 orders reported in total. In the secondhand market, 20 vessels reported to have changed hands this week equalling a total amount of money invested around of $367,250,000, with only 1 transaction reported on private terms. In terms of reported number of transactions, the S&P activity has been marked with a 35% negative w-o-w change while is standing at same levels of previous year’s weekly S&P activity in terms on number of transactions. The bulkcarrier sector attracted most interest from the investors’ side, with an investment capital of $274,400,000, around 74% share of the total invested capital in the S&P secondhand market.
“In the demolition market, 11 vessels reported to have been headed to the scrap yards of total deadweight just 443,712, with the most of activity being concentrated on India. In terms of reported number of transactions, the Demolition activity has been marked with 57% positive w-o-w change whereas the demolition activity mostly concentrated on smaller size vessels. In terms of scrap rates, the highest scrap rate has been achieved this week in the dry sector by India for two Ro-Ro / passenger vessels at $ 465/ldt.
At a similar week in 2009, just 3 tanker vessels were reported for scrap equalling a total deadweight of around 172,278 tons, two of them headed Bangladesh and one Pakistan, at a price around $320-330/ldt The Greek presence has been noticed this week in the secondhand market with 5 transactions reported, three in the bulkcarrier sector, one in the tanker sector, however the company is US listed and one in the Gas tanker sector, equalling a total amount invested around US$ 140,600,000, while in the newbuilding market just one order for four Post Panamax Containers was reported at private terms.
In the newbuilding market, 25 vessels reported to have been ordered equalling a total deadweight of 2,975,300 tons, while at similar week in 2009 15 orders have been reported, 10 in the bulkcarrier and 5 in the Tanker sector. The total invested capital in the newbuilding business estimated to be around of of US$ 1,019,800,000, while 16 transactions reported on private terms. In terms of reported number of transactions, the newbuilding business has been marked with a 47% positive w-o-w change with Bulk carriers, Tankers and Containers being in the front line. This week the Greek presence was noticed in the Container sector, with an order for 4 8,500teu vessels, contracted at private terms, however the deal is rumoured to have some subjects attached” reported Golden Destiny.
Source: Nikos Roussanoglou, Hellenic Shipping
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Friday, 24 December 10
DRY BULK OWNERS COULD SOON RECONSIDER SCRAPPING OLDER VESSELS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the dry bulk market close to its lowest levels in months and indeed close to 2010 lows, ship owners could be heading towards scrapyards in a bi ...
Thursday, 23 December 10
SOUTHGOBI RESOURCES CLOSES STRATEGIC INVESTMENT IN ASPIRE MINING LIMITED
Press Release – SouthGobi Resources Ltd. (TSX: SGQ, HK: 1878), announced today that it has completed the private placement with Aspire Mining ...
Thursday, 23 December 10
CESC EYES COAL MINES IN INDONESIA, S AFRICA - TEHELKA
Company has already set a target of adding 6,000 MW power generation by the end of the 12th Plan in 2017
Tehelka reported that, CESC Ltd, the fla ...
Thursday, 23 December 10
SANTA CLAUSE DID NOT COME EARLY THIS YEAR - FEARNBULK
Handy
Not much fresh enquiry this week and quite dead in Bl.Sea/Med. Nevertheless ...
Thursday, 23 December 10
STERLITE ENERGY LIMITED TO BUY 0.6 MLN MT OF COAL FOR 2011
COALspot.com - Sterlite Energy Limited (SEL) is a part of Vedanta Resources plc , a London listed FTSE 100 diversified metals and mining major with ...
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- Aboitiz Power Corporation - Philippines
- India Bulls Power Limited - India
- Global Coal Blending Company Limited - Australia
- Indogreen Group - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Bhatia International Limited - India
- Larsen & Toubro Limited - India
- Oldendorff Carriers - Singapore
- Renaissance Capital - South Africa
- Malabar Cements Ltd - India
- Formosa Plastics Group - Taiwan
- Kalimantan Lumbung Energi - Indonesia
- Indo Tambangraya Megah - Indonesia
- Sree Jayajothi Cements Limited - India
- Lanco Infratech Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Georgia Ports Authority, United States
- Ministry of Mines - Canada
- Interocean Group of Companies - India
- Sojitz Corporation - Japan
- GMR Energy Limited - India
- Grasim Industreis Ltd - India
- IHS Mccloskey Coal Group - USA
- London Commodity Brokers - England
- Sarangani Energy Corporation, Philippines
- CNBM International Corporation - China
- Mintek Dendrill Indonesia
- Tata Chemicals Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Bayan Resources Tbk. - Indonesia
- Chamber of Mines of South Africa
- Krishnapatnam Port Company Ltd. - India
- Gujarat Sidhee Cement - India
- Kohat Cement Company Ltd. - Pakistan
- Bukit Asam (Persero) Tbk - Indonesia
- Barasentosa Lestari - Indonesia
- Toyota Tsusho Corporation, Japan
- Carbofer General Trading SA - India
- Anglo American - United Kingdom
- Bangladesh Power Developement Board
- Africa Commodities Group - South Africa
- Romanian Commodities Exchange
- Neyveli Lignite Corporation Ltd, - India
- Eastern Coal Council - USA
- Tamil Nadu electricity Board
- Directorate General of MIneral and Coal - Indonesia
- Kaltim Prima Coal - Indonesia
- Bhoruka Overseas - Indonesia
- Coalindo Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Standard Chartered Bank - UAE
- Thiess Contractors Indonesia
- The State Trading Corporation of India Ltd
- Edison Trading Spa - Italy
- Coastal Gujarat Power Limited - India
- Intertek Mineral Services - Indonesia
- Dalmia Cement Bharat India
- Global Business Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Bulk Trading Sa - Switzerland
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rashtriya Ispat Nigam Limited - India
- Agrawal Coal Company - India
- Kartika Selabumi Mining - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Latin American Coal - Colombia
- Parliament of New Zealand
- Miang Besar Coal Terminal - Indonesia
- Bharathi Cement Corporation - India
- Trasteel International SA, Italy
- The University of Queensland
- TeaM Sual Corporation - Philippines
- PTC India Limited - India
- Borneo Indobara - Indonesia
- White Energy Company Limited
- Australian Coal Association
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SN Aboitiz Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Directorate Of Revenue Intelligence - India
- Jindal Steel & Power Ltd - India
- Bukit Baiduri Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Central Java Power - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement - Thailand
- Antam Resourcindo - Indonesia
- Iligan Light & Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Kobexindo Tractors - Indoneisa
- Sakthi Sugars Limited - India
- Merrill Lynch Commodities Europe
- Singapore Mercantile Exchange
- Parry Sugars Refinery, India
- Orica Australia Pty. Ltd.
- Global Green Power PLC Corporation, Philippines
- Vedanta Resources Plc - India
- Meralco Power Generation, Philippines
- SMC Global Power, Philippines
- Cement Manufacturers Association - India
- Siam City Cement PLC, Thailand
- Sinarmas Energy and Mining - Indonesia
- Timah Investasi Mineral - Indoneisa
- New Zealand Coal & Carbon
- Kideco Jaya Agung - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- Indian Oil Corporation Limited
- Vizag Seaport Private Limited - India
- Baramulti Group, Indonesia
- Ind-Barath Power Infra Limited - India
- Medco Energi Mining Internasional
- Indonesian Coal Mining Association
- Simpson Spence & Young - Indonesia
- Ministry of Finance - Indonesia
- OPG Power Generation Pvt Ltd - India
- Petron Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Binh Thuan Hamico - Vietnam
- Alfred C Toepfer International GmbH - Germany
- Makarim & Taira - Indonesia
- Energy Link Ltd, New Zealand
- Planning Commission, India
- AsiaOL BioFuels Corp., Philippines
- Billiton Holdings Pty Ltd - Australia
- Commonwealth Bank - Australia
- Mercuria Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Central Electricity Authority - India
- Banpu Public Company Limited - Thailand
- Electricity Generating Authority of Thailand
- Videocon Industries ltd - India
- Marubeni Corporation - India
- Deloitte Consulting - India
- Wilmar Investment Holdings
- McConnell Dowell - Australia
- Australian Commodity Traders Exchange
- Independent Power Producers Association of India
- Karbindo Abesyapradhi - Indoneisa
- Karaikal Port Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Gujarat Electricity Regulatory Commission - India
- VISA Power Limited - India
- Ministry of Transport, Egypt
- Semirara Mining and Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Energy Development Corp, Philippines
- Rio Tinto Coal - Australia
- Essar Steel Hazira Ltd - India
- PNOC Exploration Corporation - Philippines
- Indika Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Jorong Barutama Greston.PT - Indonesia
- SMG Consultants - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ambuja Cements Ltd - India
- Price Waterhouse Coopers - Russia
- San Jose City I Power Corp, Philippines
- Thai Mozambique Logistica
- GVK Power & Infra Limited - India
- Attock Cement Pakistan Limited
- Madhucon Powers Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Sindya Power Generating Company Private Ltd
- Port Waratah Coal Services - Australia
- Therma Luzon, Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Eastern Energy - Thailand
- South Luzon Thermal Energy Corporation
- The Treasury - Australian Government
- ICICI Bank Limited - India
- Altura Mining Limited, Indonesia
- European Bulk Services B.V. - Netherlands
- Mercator Lines Limited - India
- Economic Council, Georgia
- Mjunction Services Limited - India
- Straits Asia Resources Limited - Singapore
- Uttam Galva Steels Limited - India
- Xindia Steels Limited - India
- Kapuas Tunggal Persada - Indonesia
- Coal and Oil Company - UAE
- Orica Mining Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- LBH Netherlands Bv - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Goldman Sachs - Singapore
- Metalloyd Limited - United Kingdom
- Bahari Cakrawala Sebuku - Indonesia
- ASAPP Information Group - India
- Meenaskhi Energy Private Limited - India
- Jaiprakash Power Ventures ltd
- Aditya Birla Group - India
- International Coal Ventures Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Star Paper Mills Limited - India
- Posco Energy - South Korea
- Sical Logistics Limited - India
- CIMB Investment Bank - Malaysia
- Semirara Mining Corp, Philippines
- Heidelberg Cement - Germany
- Savvy Resources Ltd - HongKong
- Wood Mackenzie - Singapore
- Electricity Authority, New Zealand
- Riau Bara Harum - Indonesia
- Salva Resources Pvt Ltd - India
- Bhushan Steel Limited - India
- MS Steel International - UAE
- Minerals Council of Australia
- Indian Energy Exchange, India
- Kumho Petrochemical, South Korea
- PowerSource Philippines DevCo
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